Playtech reports revenue up 7% in fiscal year 2023 results

Playtech's revenue grew 7% for fiscal year 2023, with positive performances in both B2B and B2C operations.

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Playtech has disclosed its final financial results for the year ending 31 December 2023. The supplier's revenue for the fiscal year experienced a moderate uptick of 7%, reaching €1.7bn ($1.8bn) compared to the previous year's figure of €1.6bn.

Similarly, adjusted EBITDA demonstrated growth, rising by 9% to €432.3m.

The reported improvement in financial metrics can be primarily attributed to advancements across both Playtech's business-to-business (B2B) and business-to-customer (B2C) operations.

In the B2B segment, revenue witnessed an 8% increase, with notable progress observed in the Americas, where revenues surged by 46%. This growth was reportedly fueled by strategic initiatives, including collaborations with various operators across multiple states and the establishment of a landmark strategic agreement with Hard Rock Digital.

Meanwhile, the B2C segment experienced a 5% revenue uptick, supported by Snaitech's maintenance of its market share position in Italian sports betting.

Playtech CEO Mor Weizer said: “As well as delivering excellent financial results, the Group made important strategic and operational progress including our expansion across the US, opening a third Live Casino facility in Pennsylvania and taking the number of licences granted to 11 with further applications pending.

"Our B2C division delivered revenues exceeding €1bn for the first time and Snaitech remains well positioned to benefit from the under-penetration of the online segment, given the strength of the brand, the continuous improvements to apps and technology and a broadening of its content offering.”

Weizer added: “Underpinning this performance are our 7,700 talented colleagues around the world. Despite the significant disruption from geopolitical conflict during the year, they have continued to deliver for our customers and we are truly grateful to them all.”

Looking ahead, Playtech aims to maintain its medium-term adjusted EBITDA targets of €200-250m for B2B and €300-350m for B2C.

In January 2024, Playtech launched the iPoker tournament series, The Elite Series Winter Edition, which was hosted on the iPoker network and achieved record-breaking participation.

Moreover, Playtech extended its partnership with Totalizator Sportowy in Poland to upkeep Playtech's foothold in the Polish online gaming market.

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